Daily Strategy: SCBS Recommends to Take Defensive Stance amid Volatility in Markets

Major stock markets in Asia traded in a mixed session on Monday as investors continued to monitor the situation between Russia and Ukraine after the White House had warned that Kremlin could launch an attack anyday, while the non-farm payroll that has beaten the forecast by a large amount, causing concerns of the Fed raising interest rate at a faster pace.


Thailand’s SET Index opened at 1,678.73 points, increased 4.51 points or 0.27%.

As of 10:05 local time in Thailand, Nikkei dropped 0.86%, SSEC jumped 1.68%, Hang Seng Index fell 0.74%, ASX 200 slipped 0.35% and IDX Composite rose 0.99%.


Mr. Ekpawin Suntarapichard, investment strategist of the Siam Commercial Bank Securities (SCBS), through “Kaohoon Jor Talad Program” on February 7, 2022, stated that the Thai stock market this week could slow down due to a series of hike last week, while concerns over inflation and rate hikes have returned to the market, expecting the resistance level for this week at 1,680 points and a resistance level at 1,640-1,630 points.

The strategist recommended defensive stocks for this week such as Land and Houses Public Company Limited (SET: LH) for its high dividend yield and WHA Corporation Public Company Limited (SET: WHA) also has potential upside for its operation.

Meanwhile, COM7 Public Company Limited (SET: COM7) could benefit from the debut of Apple’s iPhone SE and iPad Air, giving the opportunity for investors to speculate. As for the construction sector, STP&I Public Company Limited (SET: STPI) could recover from its previous loss after being able to maintain its stance at around THB5.00 per share.